Trump extends tariff break – Bitcoin hits record high of $109,000!

Trump extends tariff break – Bitcoin hits record high of $109,000!

The global macroeconomic situation has reached a critical point, the impact of which is also being felt on the cryptocurrency markets. Currently, the tariff break, which was originally scheduled to end on July 9th, has been extended until August 1st. Finance Minister Heidi Bessent announced this decision. The high import tariffs, which previously set a tariff of 10 percent on almost all goods, will therefore only come into force again after this date. Trump's threat to impose tariffs of up to 70 percent on numerous products increases uncertainty for companies and consumers.

The market is optimistic in the hope of an imminent agreement in trade negotiations that are nearing completion. Analysts are reporting progress in talks with the European Union, and big announcements are expected in the coming days. This positive mood led to an increase in the Bitcoin price, which climbed from around $108,000 to $109,000. The Bitcoin price is currently at $108,700 and is showing slight growth.

Impact of US tariff policy on Bitcoin

US tariff policy has a significant impact on the Bitcoin market. A new customs package was announced that provides for flat-rate import duties of 10 to 20 percent on goods from all countries. In certain cases, tariffs can even reach 40 percent. This increases uncertainty about the economic situation and has in the past caused the Bitcoin price to fall to $82,000, but stabilize at around $83,300.

Cryptocurrencies, including Bitcoin, are particularly sensitive to geopolitical events, moving in the market despite continued political independence. Investors may be inclined to withdraw capital from riskier assets such as Bitcoin to protect their portfolios. Analysts also point out that expectations of crypto-friendly policies under the Trump administration have not been met, further hurting investor confidence.

Market Strategies for Bitcoin Investors

In times of economic uncertainty, it is essential for Bitcoin investors to closely monitor developments and adjust their strategies if necessary. Panic selling is often the result of market turmoil and can result in significant losses. Therefore, a long-term holding strategy often proves to be advantageous. Patience and disciplined decisions can help achieve better results and overcome market challenges.

Overall, it is clear that both customs policy and the general economic situation are crucial for developments on the Bitcoin market. Investors would be wise to keep an eye on current events and not be influenced by short-term fluctuations in order to take advantage of the market's long-term opportunities.

Further information on these topics can be found at Newsbit and Crypto channel.